Mobile devices accompany us in our movements, manage our communications and allow us to access a variety of products and services such as banking, payments, e-commerce and social networking, just to name a few. As consumers increasingly adopt the mobile channel and more organizations move to mobile platforms, there is an amplified need for mobile-specific identity verification and fraud prevention solutions.
However, establishing a mobile identity and reducing the risk associated with the mobile environment is a complex challenge. While it is decisively important for your legitimate customers to be able to seamlessly and securely gain access to your mobile products and services, it is equally imperative to spot and stop potential fraud. Fraudsters have become quite skilled at exploiting the many nuances that accompany mobile devices – from the millions of change events to the increasing ability of fraudsters to attack mobile technology vulnerabilities with methods such as mobile spoofing, cloning and hacking. This is where IDology’s new ExpectID Mobile steps in by enabling businesses to assess mobile risk, deter fraud and improve the user experience by establishing a unique and persistent Mobile Identity.
ExpectID Mobile allows companies to verify an identity on a mobile device by creating a persistent mobile identifier that is composed of multiple mobile-specific and identity attributes. This identifier – the IDology Mobile Identity – creates a high level of trust for mobile transactions and significantly reduces friction for legitimate customers.
The IDology Mobile Identity is verified in real time, giving you the ability to process transactions more efficiently while improving the overall user experience. The Mobile Identity is persistent, moving with an individual in order to deliver continuous and secure customer interactions.
ExpectID Mobile combines the power of IDology’s multi-layered ExpectID platform to perform customer validation with a unique Mobile Identity in order to:
- Drive Revenue by Eliminating Friction in Account Opening: On-board legitimate customers and eliminate friction in mobile transactions at all points of the customer relationship.
- Access Accounts Quicker: Once a Mobile Identity is established, customers can sign into their mobile account without the need of a user name and password, thus further reducing friction and improving the overall user experience. If a Mobile Identity bind is broken, then the integrated IDology platform enables you to seamlessly escalate to a higher level of verification in order to reestablish the bind or terminate the transaction.
- Secure Mobile Interactions: Combines mobile-specific data with identity and device attributes in order to create secure interactions and reduce fraud – all while improving the customer ease of use. Fraudulent attempts at creating or accessing accounts are instantly detected and can be escalated or terminated.
The Mobile Identity created through this process is deterministic, revocable and persistent. Additionally, this mobile identity is resistant to being forged, cloned, spoofed or hacked as well as to hijacking, malware and social engineering so businesses can gain increased confidence with each transaction.
The IDology Mobile Identity
IDology’s ExpectID Mobile Solution enables companies to create and verify the unique Mobile Identity of a customer. This Mobile Identity is established by combining real-time and historical Mobile Network Operator (MNO) data with identity and device attributes and essentially binding a user at the account level. ExpectID Mobile has immediate access to MNO data allowing businesses to deliver continuous and secure customer interactions. When transactions are initiated, ExpectID Mobile checks the consumer’s Mobile Identity in order to determine if the bind is still intact.
The IDology Mobile Identity persists more than 400+ different kinds of life cycle events such as device replacements, phone number changes, lost or stolen phones, number porting, SIM changes, information updates and more. Additionally, the Mobile Identity is surrounded by IDology’s robust fraud prevention platform as well as the essential tools accompanying IDology’s Collaborative Fraud Prevention Network.
Once the IDology Mobile Identity has been established, ExpectID Mobile enables companies to validate and decision from a variety of mobile specific attributes. Based on an organization’s own business requirements, they can choose to pass, fail or even to escalate a transaction to a higher level of verification when the attributes are deemed to be high risk.
The Integrated IDology Platform
ExpectID Mobile operates seamlessly within IDology’s robust identity verification and fraud prevention platform, allowing you verify that both new and existing consumers are who they say they are, bind them to a trusted Mobile Identity, confirm this Mobile Identity bind upon customer log-in and escalate to a higher level of verification only when needed. This is all delivered in an on-demand technology platform that enables you to determine your own business rules based on your specific requirements.
Cyber criminals are showing greater levels of determination and sophistication in their efforts which is leading to more destructive attacks that are harder to spot. With IDology’s ExpectID Mobile, companies can better understand the risks they face and subsequently act with a greater degree of security and vigilance – ensuring the legitimate customers experience less friction and raising the level of verification and ultimately blocking the fraud.